- Careem is a ‘super app’ in the Middle East, North Africa, and Pakistan (MENAP), that provides services like ride-hailing, food delivery, supermarket delivery and lifestyle bookings like laundry, home cleaning, pharmacy and salons amongst others.
- The company was founded in 2012 and acquired by Uber in 2019 for $3.1 billion, making it the first unicorn in the Middle East. Prior to the Uber acquisition, Careem became the region’s first tech unicorn in a funding round in 2016.
- Since the acquisition, it has expanded to 70 cities across 10 countries, serving over 50 million customers and creating a new income stream for over 2.5 million people.
Website: www.careem.com
What is Careem?
Careem is a Super App, operating across the Middle East, North Africa and Pakistan. Whilst it started as a ride-hailing service, it has since evolved into an everything app, covering services like ride-hailing, food delivery, payments and more.
The app was launched in 2012 and has since grown into the Middle East’s biggest unicorn, valued at over $3.1 billion.
Careem was started by Mudassir Sheikha and Magnus Olsson, who wanted to solve the problem of the region’s lack of reliable transportation. From that idea, the company has developed into a super app, and has recently announced its latest evolution, operating as a springboard for other innovators in the region.
Through driving digital innovation, Careem has not only helped simplify lives across the Middle East, but also unlocked new earning opportunities for gig economy workers in the region.
What Makes Careem Unique?
Careem is unique because of its super app, which allows its users to access a whole load of services in one place. This makes it easy to retain them for multiple purchases, contributing to its value.
Additionally, the app, which serves the MENAP region, has a strong presence and understanding of their regional audience. As the region is experiencing huge economic growth, it has perfectly positioned itself to serve these economies and grow alongside them.
Another huge part of Careem’s offering is its social impact initiatives. The company aims to address some of the biggest issues in the region, offering support to local communities. In the last five years, it has donated over $4.8 million in humanitarian and development aid, supporting the people who need it most.
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What Markets Does Careem Operate In?
Careem operates in 10 countries across the MENAP region including: Egypt, Bahrain, Iraq, Jordan, KSA, Pakistan, Kuwait, Morocco and the UAE. The digital economy in the MENAP region is set to grow rapidly, with an expected market size of $780 billion by 2030 according to a report by UBS AG.
Within these countries, it has not only helped digitise everyday needs, but unlocked earnings opportunities for millions of people and helping to transform the region into a digital superpower.
What Services Does Careem Have?
A Careem Plus Subscription costs AED 19/month and gives users unlimited savings on rides, food, groceries, and more.
The app’s services include:
- Rides: Bike, taxi, car rentals and school rides.
- Eat: Food delivery and DineOut services.
- Convenience: Rlectronics, home cleaning, salon and spa, tickets, laundry, pharmacy, and flowers.
- Pay: Careem Pay, donations, and money transfers.